Pursuits
Ten Cate's Snapshot of Profit Emboldens Investors Against Bid
- Ebitda, sales higher than targets set by company in October
- Buyout group's tender offer deadline is set for Thursday
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Royal Ten Cate NV reported 2015 profit that beat targets, spurring investors seeking to derail an agreed 675 million-euro ($736 million) takeover offer for the Dutch composites maker from Gilde Buy Out Partners that expires later this week.
Full-year revenue rose by about 5 percent, beating an earlier target of 4 percent, and earnings jumped 15 percent to 97.5 million euros, the Almelo-based company said in a statement on Tuesday.